U.S. Treasury yields were little changed on Wednesday as investors considered the state of the economy and outlook for interest rates.
At 6:32 a.m. ET, the yield on the 10-year Treasury was up by less than 1 basis point at 4.172%. The yield on the 2-year Treasury was last at 4.455% after rising 1 basis point.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Investors considered economic data and comments from Federal Reserve officials slated for the week after central bank Chair Jerome Powell earlier this week said interest rates would likely be cut before inflation reaches 2%.
Waiting until the Fed’s 2% target rate has been reached would likely be too late and could see inflation fall below this level, he said. But Powell also noted the Fed was still looking for greater confidence that inflation is indeed on its way back to the central bank’s target.
One more set of inflation data — the personal consumption…
